Cree (NASDAQ:CREE) was downgraded by research analysts at Roth Capital to a “hold” rating in a research report issued to clients and investors on Tuesday. They presently have a $35.00 price objective on the LED producer’s stock. Roth Capital’s price target would suggest a potential downside of 4.61% from the stock’s current price.

Several other equities analysts have also issued reports on CREE. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a report on Wednesday, September 27th. Northland Securities reaffirmed a “hold” rating and issued a $28.00 price target on shares of Cree in a report on Thursday, September 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cree in a report on Tuesday, September 26th. KeyCorp reaffirmed a “hold” rating on shares of Cree in a report on Monday, December 11th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Cree in a report on Wednesday, October 18th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.18.

Cree (CREE) traded up $0.40 during midday trading on Tuesday, reaching $36.69. 992,600 shares of the company’s stock traded hands, compared to its average volume of 878,064. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06. Cree has a fifty-two week low of $20.50 and a fifty-two week high of $40.24. The stock has a market capitalization of $3,561.33, a price-to-earnings ratio of -30.07 and a beta of 1.26.

Several large investors have recently bought and sold shares of the company. Strs Ohio lifted its stake in shares of Cree by 103.5% during the fourth quarter. Strs Ohio now owns 11,600 shares of the LED producer’s stock worth $430,000 after buying an additional 5,900 shares during the period. Fox Run Management L.L.C. acquired a new position in Cree during the fourth quarter valued at $976,000. Alpha Windward LLC acquired a new position in Cree during the fourth quarter valued at $540,000. Schwab Charles Investment Management Inc. lifted its position in Cree by 5.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 758,095 shares of the LED producer’s stock valued at $28,156,000 after purchasing an additional 40,559 shares during the period. Finally, AXA acquired a new position in Cree during the third quarter valued at $6,481,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

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Cree Company Profile

Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.

Analyst Recommendations for Cree (NASDAQ:CREE)

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